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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (75112)	12/9/2006 10:57:04 AM
From: orkrious	Respond to of 110194

ork, what is your positioning now relative to your typical positioning? are you heavily short, average short, or light? also, what about miners? I am long miners equal to 120% of my PF. That includes a huge PAAS position (22%) I bought mostly in June on margin at an average of just under 18. I'm waiting until after 1/1 to start selling it. Depending on what happens with the homies (the faster they go down the better), I may keep a decent slug of it for LT cap gains. My short position is the largest it's ever been. It's 66% of my PF (so it's entirely on margin - but remember it doesn't take cash, only buying power). The shorts are 83% homies (in descending size order: ryl, tol, len, kbh, hov, dhi) and 17% lenders (dsl, lend, rdn, bkuna). I don't mind being so leveraged because I consider my long and shorts somewhat hedged. It's unlikely the shorts will keep going up but even if they do they will be outperformed by the miners.